2

This news may have gone under the radars but its news that could have sent the economy towards a tailspin had it not been worked out. There are millions of Americans currently collecting unemployment benefits and had the deal not been reached, all of a sudden there would have been millions of people with $0 income to buy basic needs like food & shelter.

The economy would have felt an immediate drop in current demand and could have sent it into a tailspin.

Rep. David Camp, R-Mich., and Sen. Max Baucus, D-Mont., the two top negotiators, strode from a conference room minutes after midnight Thursday to say that only technical issues and the drafting of legislative language remained. The bill would assure a continued tax cut for 160 million workers and jobless benefits for several million others, delivering top election-year priorities for President Barack Obama.

"It's a very good deal for the country," said Baucus, who chairs the Senate Finance Committee.